April 14, 2015 4:37 AM
Residential real estate to be the next frontier for speed-based investing
ATLANTA—It took Akuansa Graham seven minutes on a recent morning to craft a $124,000 bid for a three-bedroom Buford, Ga., home he had never seen.
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April 14, 2015 4:47 AM
Thanks for the tip..just put your thermostat on the broken air at 67, make the blinds go upwards and they won't know about the unpermitted room, the termite damage, the stolen wiring, or cracked foundation.
April 14, 2015 4:46 AM
blinds pointed upward but no copper pipesthis is comical - the end buyer is the loser
April 14, 2015 4:45 AM
Nothing but greed and denying the average young family the opportunity to buy and own their own home - pretty sad
look forward to more bubbles for the bubble-brained
April 14, 2015 4:44 AM
Forget people who need homes to live in, screw them. These people are bottom feeders.
"speed based investing"Hah! Here we go again! Flip or flop!Experienced pros can make this work, but this will bring the amateurs in again and many will get burned...
April 14, 2015 4:43 AM
Another bubble in the making?
Many people are mistakenly under the impression that the housing bubble collapsed and then the market rebounded or recovered. In fact there was a correction and re-inflation without the bubble ever having burst.
April 14, 2015 4:42 AM
Bubble, bubble, toil and trouble.
April 14, 2015 4:41 AM
LOL, and UP goes the next bubble...
April 14, 2015 4:40 AM
Watch out... there is another bubble forming.
Whatever you do, do not bring another financial collapse...
April 14, 2015 4:39 AM
This is the new era of what is now referred to as 'Plantation America.' Housing assets are being consolidated for the worker bees to occupy, to pay rent to the benevolent plantation owner. This system provides an ongoing revenue stream to the plantation owner, a basic hovel to occupy for the tenant. It somehow reminds me of an earlier period of American history..
April 14, 2015 4:38 AM
It still seems like a dumb idea to buy a house "site unseen" (vs. the curious old formulation "sight unseen").
Ah. So this is why I can't find an affordable starter home to buy. They've all been turned into rental properties.I guess my savings won't be stimulating the economy anytime soon.
This is typical, bidding before you see the property, then if they get a response they send someone to look at it. These are listed properties that have an inspection contingency, title insurance etc.They are not taking any risk in making a bid before they see it. Happens all the time.